Legal Week The Global Lawyer Powered By Law.com Legal News From Around the World |
Welcome back to The Global Lawyer, our weekly summary of the important news and trends affecting the legal industry around the world. This week we will be taking a look at: • A Threat to Australia's Growing Class Actions • Amsterdam's Sudden New-Found Attractiveness • The Best Brands in Asia (But Top Deals Go Elsewhere)
I’m Paul Hodkinson, Editor-In-Chief at Legal Week. My colleague Lisa Shuchman and I invite you to check out our daily international coverage here. You can subscribe to other newsletters from Law.com or Legal Week or unsubscribe from this one on the newsletters section under MyAccount, where you will see all the newsletter options. |
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It's Hotting Up Down Under For anyone wanting proof that new financial arrangements can have a major impact on the legal industry, look no further than Australia. It is there that a sharp rise in class actions is particularly noteworthy. It should come as no surprise that this is happening. Part of it is no doubt due to a government report exposing impropriety in the country’s financial sector. But underpinning the rise in lawsuits is the surge in litigation funding. For the time being anyway. As our local correspondent Christopher Niesche writes, a key court decision later this year will determine whether all members of a group action are required to pay a share of a litigation funder’s commission or not, which could have severe implications for such cases. Regardless, Lisa Shuchman and I have noted how the Australian market is clearly of interest to a lot of firms at the moment. Increased litigation activity has caused U.K. firm Clyde & Co to pursue an aggressive growth strategy in the country, while U.S. firm Squire Patton Boggs recently made a hire and local firm MinterEllison is expanding its consulting arm.
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Adding Up In Amsterdam Amsterdam has not always been the world’s biggest legal centre. But with Brexit prompting U.K. financial institutions to look at new locations within the European Union plus government tax and investment incentives, there is renewed activity in the city. Greenberg Traurig has expanded its labour and employment practice there, while Eversheds, which last year merged with a Dutch firm it had been affiliated with for a decade, hired three partners recently. In its promotions round last month Baker McKenzie added two partners in Amsterdam, while Scott+Scott, which has offices in New York, Connecticut, California and London, launched an Amsterdam office in June. Dentons’ office has doubled in size since it merged with the Dutch firm Boekel in 2017. Our Continental European correspondent Simon Taylor is covering it all.
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“It’s the bridge to the rest of Latin America” Raymundo Enriquez, managing partner of Baker McKenzie‘s five offices in Mexico, on how U.S. firms remain committed to Mexico despite uncertainty at the border. |
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The Best Brand in Asia
When you think of top law firms in Asia, which names come to mind? The correct answer is Baker McKenzie, which has topped the latest ranking of the top law firm brands in the Asia-Pacific region for the third year running. It was followed by King & Wood Mallesons and Herbert Smith Freehills. But, as our Asia correspondent John Kang writes, when it comes to top transactions some other names win out. The largest-ever insurance transaction in Southeast Asia gifted roles to the Hong Kong offices of Slaughter and May and Linklaters. Slaughter and May is advising FWD Group Financial, which is acquiring SCB Life Assurance Public Co., advised by Linklaters.
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That’s all for this week. Check out our daily international coverage here.
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